Broker A and a seller agree to an open listing. Broker B obtains a second open listing from the seller and produces a buyer who is ready, willing, and able to close on the seller's home. Which statement is true of this transaction?

In an open listing scenario, there is no requirement for Broker B to inform Broker A about the offer since both brokers are competing for the commission independently. Each broker operates separately, and the seller is free to work with any broker who brings a buyer.

Since Broker B brought the buyer and successfully completed the transaction under an open listing, Broker B is entitled to the full commission. The commission is not split unless there is a prior agreement or arrangement that specifies otherwise, which is not typical in open listings.

In an open listing, the seller is only obligated to pay a commission to the broker who successfully facilitates the sale. If Broker A does not bring a buyer to the transaction, the seller is not required to pay Broker A a commission upon closing.